Reliance Steel & Aluminum Co (NYSE:RS) Shares Sold by Hancock Whitney Corp

Hancock Whitney Corp cut its holdings in Reliance Steel & Aluminum Co (NYSE:RS) by 5.3% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 146,036 shares of the industrial products company’s stock after selling 8,242 shares during the quarter. Hancock Whitney Corp owned approximately 0.22% of Reliance Steel & Aluminum worth $13,181,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the stock. Vanguard Group Inc raised its holdings in Reliance Steel & Aluminum by 0.6% during the third quarter. Vanguard Group Inc now owns 6,340,594 shares of the industrial products company’s stock valued at $540,790,000 after acquiring an additional 39,418 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Reliance Steel & Aluminum by 5.5% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,899 shares of the industrial products company’s stock worth $349,000 after purchasing an additional 255 shares during the last quarter. Advisors Asset Management Inc. increased its holdings in shares of Reliance Steel & Aluminum by 17.0% in the fourth quarter. Advisors Asset Management Inc. now owns 33,907 shares of the industrial products company’s stock worth $2,413,000 after purchasing an additional 4,930 shares during the last quarter. Rhumbline Advisers increased its holdings in shares of Reliance Steel & Aluminum by 43.3% in the fourth quarter. Rhumbline Advisers now owns 181,638 shares of the industrial products company’s stock worth $12,927,000 after purchasing an additional 54,922 shares during the last quarter. Finally, First Mercantile Trust Co. increased its holdings in shares of Reliance Steel & Aluminum by 49.1% in the fourth quarter. First Mercantile Trust Co. now owns 790 shares of the industrial products company’s stock worth $56,000 after purchasing an additional 260 shares during the last quarter. 81.41% of the stock is currently owned by institutional investors and hedge funds.

In other news, VP Jeffrey Wayne Durham sold 2,675 shares of the company’s stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $92.29, for a total transaction of $246,875.75. Following the transaction, the vice president now directly owns 8,255 shares of the company’s stock, valued at $761,853.95. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Gregg J. Mollins sold 25,000 shares of the company’s stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $91.81, for a total value of $2,295,250.00. The disclosure for this sale can be found here. Insiders sold 39,008 shares of company stock valued at $3,580,455 in the last three months. 3.43% of the stock is currently owned by insiders.

Shares of NYSE:RS traded up $0.90 during trading hours on Monday, hitting $95.52. 382,445 shares of the company’s stock traded hands, compared to its average volume of 433,476. The company has a quick ratio of 1.85, a current ratio of 4.06 and a debt-to-equity ratio of 0.47. The firm has a market cap of $6.36 billion, a price-to-earnings ratio of 10.68, a P/E/G ratio of 1.15 and a beta of 1.31. The firm has a fifty day simple moving average of $87.81. Reliance Steel & Aluminum Co has a 1 year low of $68.62 and a 1 year high of $95.66.

Reliance Steel & Aluminum (NYSE:RS) last announced its quarterly earnings results on Thursday, April 25th. The industrial products company reported $2.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.38 by $0.42. The firm had revenue of $2.96 billion during the quarter, compared to analyst estimates of $2.97 billion. Reliance Steel & Aluminum had a return on equity of 13.70% and a net margin of 5.58%. Reliance Steel & Aluminum’s quarterly revenue was up 7.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.30 earnings per share. On average, analysts predict that Reliance Steel & Aluminum Co will post 9.17 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 14th. Investors of record on Friday, May 24th were paid a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a yield of 2.30%. The ex-dividend date of this dividend was Thursday, May 23rd. Reliance Steel & Aluminum’s dividend payout ratio (DPR) is 24.61%.

Several equities research analysts have weighed in on the company. Cowen set a $100.00 price objective on Reliance Steel & Aluminum and gave the stock a “buy” rating in a research note on Wednesday, June 26th. Jefferies Financial Group cut Reliance Steel & Aluminum from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $105.00 to $100.00 in a research note on Friday, April 26th. Longbow Research cut Reliance Steel & Aluminum from a “neutral” rating to an “underperform” rating and set a $76.00 price objective on the stock. in a research note on Thursday, April 18th. Citigroup set a $98.00 price objective on Reliance Steel & Aluminum and gave the stock a “hold” rating in a research note on Monday, May 20th. Finally, Deutsche Bank raised Reliance Steel & Aluminum from a “hold” rating to a “buy” rating and set a $84.82 price objective on the stock in a research note on Thursday, May 30th. Three investment analysts have rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the company. Reliance Steel & Aluminum presently has a consensus rating of “Hold” and a consensus price target of $94.58.

Reliance Steel & Aluminum Company Profile

Reliance Steel & Aluminum Co operates as a metals service center company. The company provides alloy, aluminum, brass, copper, carbon steel, stainless steel, titanium, and specialty steel products and related processing services to general manufacturing, non-residential construction, transportation, aerospace and defense, energy, electronics and semiconductor fabrication, auto, and heavy industries.

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Institutional Ownership by Quarter for Reliance Steel & Aluminum (NYSE:RS)

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